Is Shanghai Pret Composites Co., Ltd.'s (SZSE:002324) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Shanghai Pret Composites Co., Ltd.'s (SZSE:002324) Recent Stock Performance Tethered To Its Strong Fundamentals?
Shanghai Pret Composites (SZSE:002324) has had a great run on the share market with its stock up by a significant 16% over the last three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Shanghai Pret Composites' ROE today.
上海普瑞特複合材料(SZSE:002324)在股票市場上表現良好,其股票在過去三個月中大幅上漲了16%。由於市場通常會爲公司的長期基本面買單,因此我們決定研究公司的關鍵績效指標,看看它們是否會影響市場。特別是,我們今天將關注上海普瑞特綜合指數的投資回報率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。換句話說,它是衡量公司股東提供的資本回報率的盈利比率。
How Is ROE Calculated?
ROE 是如何計算的?
The formula for ROE is:
ROE 的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益
So, based on the above formula, the ROE for Shanghai Pret Composites is:
因此,根據上述公式,上海普瑞特複合材料的投資回報率爲:
9.3% = CN¥437m ÷ CN¥4.7b (Based on the trailing twelve months to March 2024).
9.3% = 4.37億元人民幣 ÷ 47億元人民幣(基於截至2024年3月的過去十二個月)。
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.09 in profit.
“回報” 是每年的利潤。這意味着,公司每獲得價值1元人民幣的股東權益,就會產生0.09元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
Shanghai Pret Composites' Earnings Growth And 9.3% ROE
上海 Pret Composites 的收益增長和 9.3% 的投資回報率
At first glance, Shanghai Pret Composites' ROE doesn't look very promising. Although a closer study shows that the company's ROE is higher than the industry average of 6.3% which we definitely can't overlook. This probably goes some way in explaining Shanghai Pret Composites' moderate 18% growth over the past five years amongst other factors. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. Such as- high earnings retention or the company belonging to a high growth industry.
乍一看,上海普瑞特複合材料的投資回報率看起來並不十分樂觀。儘管一項更仔細的研究表明,該公司的投資回報率高於行業平均水平的6.3%,但我們絕對不能忽視。除其他因素外,這可能在某種程度上解釋了上海普瑞特複合材料在過去五年中18%的溫和增長。話雖如此,該公司的投資回報率一開始確實略低,只是高於行業平均水平。因此,收益的增長也可能是其他因素的結果。例如-高收益留存率或屬於高增長行業的公司。
We then compared Shanghai Pret Composites' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 8.0% in the same 5-year period.
然後,我們將上海普瑞特複合材料的淨收入增長與該行業進行了比較,我們很高興地看到,與同期5年同期增長率爲8.0%的行業相比,該公司的增長數字更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240522/0-e41bcb8583fee420119437c4e55a50fc-0-0fab8023bf4f129601a963a6f104cc9d.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is 002324 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。對於投資者來說,重要的是要知道市場是否對公司的預期收益增長(或下降)進行了定價。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。002324 估值合理嗎?這張關於公司內在價值的信息圖包含了你需要知道的一切。
Is Shanghai Pret Composites Making Efficient Use Of Its Profits?
上海普瑞特複合材料在有效利用其利潤嗎?
Shanghai Pret Composites' three-year median payout ratio to shareholders is 15% (implying that it retains 85% of its income), which is on the lower side, so it seems like the management is reinvesting profits heavily to grow its business.
上海普瑞複合材料的三年股東派息率中位數爲15%(這意味着它保留了收入的85%),處於較低水平,因此管理層似乎正在大量再投資利潤以發展業務。
Moreover, Shanghai Pret Composites is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
此外,上海普瑞複合材料公司決心繼續與股東分享利潤,這是我們從其支付股息至少十年的長期歷史中推斷出來的。
Summary
摘要
On the whole, we feel that Shanghai Pret Composites' performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總體而言,我們認爲上海普瑞特複合材料的表現相當不錯。特別是,我們喜歡該公司以適度的回報率對其業務進行大量再投資。毫不奇怪,這帶來了令人印象深刻的收益增長。話雖如此,從分析師目前的估計來看,我們發現該公司的收益有望增強。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。